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- 4/27/25
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TLDR: 7 YoE fundamental research analyst wants to pivot to QR/QT instead of pursuing a career at an asset allocator (pension/endowment shops). CS Minor in UG but minimal professional cs experience since then.
---My Profile/Background---
- 335 GRE (170Q/165V), CFA Charterholder, US citizen
-I graduated in 2018 with a BBA degree in Finance with a minor in Computer Science (Rank ~40 US university, 3.6 GPA)
-(2018-2022) Worked as an investment analyst for a boutique RIA. Primarily focused on fundamental analysis of public equities, but relied on statistical analysis to set valuation targets and screen for new investments. Used Monte Carlo simulation to stress test portfolios and valuation models. Responsible for valuation, trading, and monitoring ~60 public equities. Part of a two-person portfolio management team.
-(2022 - Present) Recruited to a family investment office (not my family) to build out their office following a liquidity event. My work has focused more on asset allocation and portfolio management. Research is focused on asset class return/drawdown forecasts, fund/manager sourcing/research/valuation, mean reversion trading (doxing risk prevents further detail here). All-weather, all-asset, taxable portfolio.
-I have extensive experience in Bloomberg/FactSet, using their proprietary query languages to analyze historical return and financials/KPI data to help inform investment theses and set entry/exit targets for recurring thematic trades
---Why MFE? Why Now?---
-The office I'm currently working at is beginning to wind down in anticipation of a large charitable gift (~40% AUM)
-In undergrad, I wanted to pursue equity research. After learning more about MiFiD II and the decline of ER, I pivoted to pursuing a career in institutional AM (family office, endowment, retirement plan, etc.). After working in that space for a few years, I want to pursue something more intellectually stimulating. The cycle of sourcing, reviewing, and monitoring third party managers is not enough. Out of all the managers I've reviewed, structured credit and systematic HFs seem the most appealing to work for. Their investment processes seem structurally reliable and pair well with a passive equity allocation.
-I increased my compensation from $X in 2018 to ~2X in 2022 and +3X last year. I am beginning to hit a more gradual slope in compensation growth. If I could make the same in a QR/QT/QD role with much better upside, I'd be thrilled.
---MFE Process Goals---
-Learn to develop, automate, test, deploy, and improve investment and trading strategies
-Learn to price esoteric and ABS securities
-Learn how to apply ML to investment processes responsibly (garbage in garbage out)
---MFE Employment Goals---
-Top Choice: QR/QD/QT in the fixed income or structured product space
-Structured product / ALM investing for insurance portfolios, ABS specialists
-Sell side QR/QD at banks, asset allocators, or asset managers
-Safety: Data Analytics/Product Development at Exchange, Bank, MBS/Ratings agency, or services provider
---Target Schools for Current Application Cycle---
-Descending Order: Baruch MFE, CMU MSCF, Columbia MFE, MIT MoF(FE Concentration), UChicago MSFM, Haas MFE, Princeton MiF (Quant AM Concentration)
-I would consider reapplying for 2027 if I do not get into any of Baruch, CMU, Columbia, or MIT.
---Planning Ahead---
(Build order ahead of January application deadlines)
-Letters of Recommendation
-Application Essays
-Prereq Math: Calc II (last taken in 2015) --> Calc 3 --> Linear
-Prereq Coding: Baruch Pre-MFE courses. Python/SQL --> C++ --> C++ Advanced
---Questions---
-In my applications, how should I communicate my intent to take prerequisite coursework beyond the application deadline?
-I will have two professional LoR's. For the third, will it make a difference if it is a CS/Math vs Finance professor?
-Should I look to emphasize my fundamental research background? I'm a non traditional applicant at 7 YoE, and I'm not sure what I should be highlighting from my background. ----^This pertains to my resume, letters of rec, and personal essays.
-Are my employment outcomes realistic? Comparable alumni from the programs listed are few and far between.
-Any schools to add/drop from my list? Why? I've read horror stories about Haas's program. I'm not interested in the corporate finance curriculum at Princeton, but the career outcomes justify some redundant courses.
Thank you for taking the time to read this and for any insight you may provide.
---My Profile/Background---
- 335 GRE (170Q/165V), CFA Charterholder, US citizen
-I graduated in 2018 with a BBA degree in Finance with a minor in Computer Science (Rank ~40 US university, 3.6 GPA)
-(2018-2022) Worked as an investment analyst for a boutique RIA. Primarily focused on fundamental analysis of public equities, but relied on statistical analysis to set valuation targets and screen for new investments. Used Monte Carlo simulation to stress test portfolios and valuation models. Responsible for valuation, trading, and monitoring ~60 public equities. Part of a two-person portfolio management team.
-(2022 - Present) Recruited to a family investment office (not my family) to build out their office following a liquidity event. My work has focused more on asset allocation and portfolio management. Research is focused on asset class return/drawdown forecasts, fund/manager sourcing/research/valuation, mean reversion trading (doxing risk prevents further detail here). All-weather, all-asset, taxable portfolio.
-I have extensive experience in Bloomberg/FactSet, using their proprietary query languages to analyze historical return and financials/KPI data to help inform investment theses and set entry/exit targets for recurring thematic trades
---Why MFE? Why Now?---
-The office I'm currently working at is beginning to wind down in anticipation of a large charitable gift (~40% AUM)
-In undergrad, I wanted to pursue equity research. After learning more about MiFiD II and the decline of ER, I pivoted to pursuing a career in institutional AM (family office, endowment, retirement plan, etc.). After working in that space for a few years, I want to pursue something more intellectually stimulating. The cycle of sourcing, reviewing, and monitoring third party managers is not enough. Out of all the managers I've reviewed, structured credit and systematic HFs seem the most appealing to work for. Their investment processes seem structurally reliable and pair well with a passive equity allocation.
-I increased my compensation from $X in 2018 to ~2X in 2022 and +3X last year. I am beginning to hit a more gradual slope in compensation growth. If I could make the same in a QR/QT/QD role with much better upside, I'd be thrilled.
---MFE Process Goals---
-Learn to develop, automate, test, deploy, and improve investment and trading strategies
-Learn to price esoteric and ABS securities
-Learn how to apply ML to investment processes responsibly (garbage in garbage out)
---MFE Employment Goals---
-Top Choice: QR/QD/QT in the fixed income or structured product space
-Structured product / ALM investing for insurance portfolios, ABS specialists
-Sell side QR/QD at banks, asset allocators, or asset managers
-Safety: Data Analytics/Product Development at Exchange, Bank, MBS/Ratings agency, or services provider
---Target Schools for Current Application Cycle---
-Descending Order: Baruch MFE, CMU MSCF, Columbia MFE, MIT MoF(FE Concentration), UChicago MSFM, Haas MFE, Princeton MiF (Quant AM Concentration)
-I would consider reapplying for 2027 if I do not get into any of Baruch, CMU, Columbia, or MIT.
---Planning Ahead---
(Build order ahead of January application deadlines)
-Letters of Recommendation
-Application Essays
-Prereq Math: Calc II (last taken in 2015) --> Calc 3 --> Linear
-Prereq Coding: Baruch Pre-MFE courses. Python/SQL --> C++ --> C++ Advanced
---Questions---
-In my applications, how should I communicate my intent to take prerequisite coursework beyond the application deadline?
-I will have two professional LoR's. For the third, will it make a difference if it is a CS/Math vs Finance professor?
-Should I look to emphasize my fundamental research background? I'm a non traditional applicant at 7 YoE, and I'm not sure what I should be highlighting from my background. ----^This pertains to my resume, letters of rec, and personal essays.
-Are my employment outcomes realistic? Comparable alumni from the programs listed are few and far between.
-Any schools to add/drop from my list? Why? I've read horror stories about Haas's program. I'm not interested in the corporate finance curriculum at Princeton, but the career outcomes justify some redundant courses.
Thank you for taking the time to read this and for any insight you may provide.
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